Outcome of Board meeting dated 13.03.2026_For the Allotment of 55,00,000 convertible warrants into 55,00,000 Equity shares of the Company.
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Syschem India Ltd's board, at its meeting on March 13, 2026, approved the conversion of 55,00,000 warrants into an equal number of equity shares at Rs. 49 per share (face value Rs. 10, premium Rs. 39). The company received a balance amount of Rs. 20.21 crore (Rs. 36.75 per warrant, being 75% of the issue price) from the allottees. All allottees belong to the Promoter and Promoter Group, with names like Virendra Shah, Bimal Shah, and members of the Khokhani family. Following this conversion, the company's paid-up equity capital has increased to Rs. 49.01 crore, comprising 4.9 crore equity shares. Promoter shareholding will rise from 55.92% to 60.86% post-allotment.
This is a promoter-led warrant conversion, not a fresh capital raise from the market. It will dilute public shareholding (from 44.08% to 39.14%) and increase promoter stake. Since the shares are issued to existing promoters, there is no immediate cash inflow benefit to the company beyond the Rs. 20.21 crore already committed. Existing shareholders may see minor dilution of their proportional holding.